This May, on the 23rd and 24th, the Blockchain Association of Uganda will host a summit to define the industry. The conference, which is scheduled to run at the Kampala Serena Hotel, is to bring together policy makers, industrial leaders, academia, youths, entrepreneurs, and enthusiasts; to discuss the role of Blockchain in regards to Africa’s transformation.
Blockchain technology has been literally mistaken to be crypto-currency, and the focus of this conference is to pass on education on the distinct difference between the two. And whereas the context of the technology could be hard on the surface, the summit aims at engaging the public and the private sectors by sharing understanding as to how it can be adopted.
What is Blockchain Technology?
It is a distributed ledger platform, or collection of accounts, that allows for the creation and management of decentralized systems and processes, which enhance efficiency and transparency of transactions across business operations. The technology is already disrupting and redefining traditional governance and business models across the world; from the way information is created, managed, and shared to the way products and services are delivered.
The Africa Blockchain Conference seeks to showcase the different yet relevant use cases in the various sectors to demonstrate the value and importance of the technology. It will feature key global stakeholders, who will be building a case for the adoption of the technology in Uganda and Africa as a whole.
Speakers and panelists will come from Uganda, Kenya, Senegal, South Africa, Europe, the United States, and Asia. The topics of discussion will include governance ,regulation and policy, crypto currencies and digital assets, cyber secutiry, innovation and technology, risk and investment opportunities, among others.
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Speaking at the launch of the conference at the Blockchain Association offices at the Nakawa Business Park, Kwame Rugunda, the Association chairman, said that there is a need to change Africa’s lag in innovation – given that the continet is at the right time to adopt the technology.
“We have already seen glimpses into how it is disrupting traditional models in areas such as finance, procurement, insurance, health, identity management, contracts, and governance. Now is the right time to engage withthis novel technology, because each wave of thechnology presents profound opportunity, particularly for the early adopters.”Advertisement - Continue reading below
The conference has been enabled by the Ministry of ICT and National Guidance, Stanbic Bank and Binance Foundation.
The Permanent Secretary at the Ministry of ICT and National Guidance, Vincent Bagiire reassured that the governement is keen about embracing technology innovations.
“We actively engaged in the discussions on blockchainand have collaborated with different stakeholders to ensure that we have the right information to advance our agenda as government. We recognize the growing trends in the sector and are positioning ourselves at the forefront so as to take advantage of the oppotunities.”
Benefits of Using Blockchain
Like Mr. Rugunda notes, some of the immediate profits of using include enhanced efficiencies with greater transparenciey and accountability in business and governance systems, which are a key factor in enabling economies like Uganda become an investment destination, and eventually propelling economic growth.